Exposed as misleading as early as 1999, should 401k plan sponsors continue to risk increasing their fiduciary liability by condoning their use?

Grant Barger's insight:

The risk tolerance questionnaire is called out! I love it... You need more than the standard issue industry questions that get you into the style box... you need to know your 401(k) DNA! www.my401kdna.com This is not a risk tolerance questionnaire.

Here is the latest from Bloomberg Businessweek EconoChat. It is on our post-crisis doom and gloom and what has done to the investing spirit of those younger. America's retirement policy is a failure.

Grant Barger's insight:

The Number of views at the time I read this "article" was 27,931 and we wonder why people make poor decisions on their investment options. The noise needs a filter and mass media is not a very good filter for investment decision making.

For fiduciary advisors, a decision by federal judges finding mismanagement of a company s 401(k) plan could have far-reaching consequences.

Grant Barger's insight:

"If you operate as an investment advisor under the 1940 Act, you have virtually the same responsibilities as an ERISA fiduciary to many of your clients. If you ignore these legal developments, you might face costly consequences"

With the baby boomers reaching retirement age, its eminent the government will face a lot of pressure in caring for them. This will push pensions ..., Eileen Eva (RT @Viral_HQ: Should you bet your #retirement on a #401k plan?

DOL credits itself for notable evolution in the 401(k) industry -- not without criticism - The sharks are circling after the Ayres letters caused a furor but one industry leaders says Labor's bureaucrats get a C-minus...

Fidelity Investments research puts some hard numbers on the disgruntlement of 401(k) plan sponsors - Advisors are gaining some ground but the crunch of fees and service on plan purveyors gets worse and worse...

Grant Barger's insight:

Quotes for content “With the increased awareness, it’s going to be much harder to advisors who only have a few 401(k) plans to hold on to those plans,” “The messages we’ve sent to advisors is, you’ve got to make sure you’re an expert and that you’re the more knowledgeable advisor defined across a pretty broad topic and helping them manage their fiduciary duty,” He agrees that participant advice is “very labor intensive.” Though his firm still offers it to participants, less than 10% actually take advantage of it.

The public-sector pension crisis could help boost the profile of the only other retirement savings vehicle that governments, schools and public hospitals can rely on to help employees save for retirement.

Anything that will shed light on plan participants becoming more engaged in their 401k is a good thing. Participants in 401k plans must become proactive in the process of their retirement or risk having very little savings with which to retire. "Welcome to Walmart..."

With increased longevity and a Social Security system doomed to fail, we must become more financially adept to guarantee an adequate standard of living in our golden years.

Grant Barger's insight:

"Despite how painfully obvious it is, people still continue to neglect their retirement savings. The most important rule in preparing for post-employment years is simple: The earlier you start saving, the more money you'll have in your pocket down the road."

Why a $1-billion Fidelity RIA is placing LPL at the heart of its 401(k) business - Ingham Retirement dropped Sentinel Securities for LPL and is also becoming a retirement plan vendor to many LPL reps

Grant Barger's insight:

"The choice of a broker is somewhat ancillary to the custody decision but still plays a critical role in making the machinery of a 401(k) business work, according to Jennifer Ingham, vice president of sales and product development at Ingham Retirement Group. Still, she emphasizes that the use of these old-school methods is part of a very new-school effort to bring fiduciary care efficiently to 401(k) participants."

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